Bank Cheques R.I.P.

[AlanHo]

I have received the following Email from one of my banks - suggesting I convert my current account to a new Green one.

I would find it inconvenient to give up having a cheque book or paying-in book. Even though I write only a few cheques and would like to receive many more - it is a facility I would find it hard to live without. This seems to be another step towards the demise of cheques and paper based banking. I have a feeling that the motivation by the banks is nothing to do with being "green" but more directed to making even greater profits.

Note the reference to "Fee-free money transfers for all your payments online till the end of the year". At present I can make online money transfers and payments without paying a fee - this suggests that this facility is soon to be terminated.

Any comments......?

Green Option for current accounts

Why not do your bit and help the environment by Going Green with an xxxxx current account?

We are committed to finding ways of reducing its impact on the environment through saving paper and the energy used to produce, transport and dispose of it.

Going Green with an xxxxx current account is all about doing your everyday banking, but in ways that do not impact the environment, through the removal of unnecessary paper.

Going Green means:

• your statements and charges summaries for the account will be delivered electronically via Internet Banking,

• where possible, we will contact you for service reasons electronically or by telephone rather than by paper,

• you will not receive paper-based marketing, and

• you will not have a cheque book or paying in book for your account.

For every Green account opened, for a limited period we will donate Ј5 to be shared equally between WWF (formerly known as the World Wildlife Fund) Earthwatch and The Climate Group.

Green account benefits:

• Fee free global ATM withdrawals – We will not charge you a transaction fee for using your debit card in shops, stores, or at cash machines overseas.

• Each holder is able to apply for a Bank Credit Card with no credit history check (no need to complete paper documents),

• Fee-free money transfers for all your payments online till the end of the year,

• Manage your money when and where it suits you.

• Protection against Internet card fraud - you will not be charged for online card transactions undertaken without your authority,

• Identity theft assistance and personal security advice.

[catgate]

I have long suspected that the banks were out to do away with real money (and real money substitutes) altogether and in its place substitute notional money. Granted what we have at present is little more than notional money, but at least you have a "token".

Just imagine what freedom totally notional money would give the banks. For one thing they could lend any amount they wished. without the need to pretend that they actually had it to lend...even a hundred times more than they do now. They could shut down all the branches and out source everything to a little onelegged chap and his dog in Ongibongiland.

[ɹəuəllıʍ ʇɐb]

I haven't used cheques of any kind since the '70s, and I didn't even know that the concept still existed. Electronic banking has been around for a long time, and I wouldn't know what to do without it (having some of my banks on the other side of the world).

The easiest way of paying nowadays is by electronic money stored in my cell phone; supermarkets, department stores, subways, trains, kiosks, convenience stores - all accept it. And it gets automatically recharged from my bank account when it reaches a specified minimum. The transaction takes less than a second by hovering the device over the pay-pad. Cheques - what an outdated concept! But I still see some American women using paper cheques at the local supermarket - strange

[andsome]

I haven't used cheques of any kind since the '70s, and I didn't even know that the concept still existed. Electronic banking has been around for a long time, and I wouldn't know what to do without it (having some of my banks on the other side of the world).

The easiest way of paying nowadays is by electronic money stored in my cell phone; supermarkets, department stores, subways, trains, kiosks, convenience stores - all accept it. And it gets automatically recharged from my bank account when it reaches a specified minimum. The transaction takes less than a second by hovering the device over the pay-pad. Cheques - what an outdated concept! But I still see some American women using paper cheques at the local supermarket - strange

Many supermarkets in the UK have now stopped accepting cheques.

[catgate]

It is a wonderful way of keeping an eye on everything and everyone, and making sure everything is taxed properly (unless you have Gordons blessing to use a bent accountant called Mills, or have your own tax haven account).

[Watchful]

I'd prefer to keep my cheque book and paper statements so will cling on as long as my bank supplies them.

What happens if all these machines go haywire and there is no proof of what you've paid in or drawn out?

[doug]

Shades of Tom Clancy's book "Executive Orders"!

[CurlyWhirly]

I'd prefer to keep my cheque book and paper statements so will cling on as long as my bank supplies them.

I do online banking and my account doesn't even come with a cheque book!

If I want to pay in a cheque, I have to post it in an envelope to my bank

Fortunately, I've only paid in 2 cheques since I opened the (online) account over 5 years ago.

What happens if all these machines go haywire and there is no proof of what you've paid in or drawn out?

I would imagine that there is a contingency plan of some sort

[ɹəuəllıʍ ʇɐb]

What happens if all these machines go haywire and there is no proof of what you've paid in or drawn out?

Use cash, perhaps, or a credit card?

[Watchful]

Looked as if it was RIP for WF there for a while :D

Personally, I prefer to use cash although the debit card comes in handy for withdrawing funds. Just hope all the machines don't crash at some point

[Scarecrow Man]

You can even pay parking/speeding tickets (in Canada) online now.

http://www.paytickets.ca/

I have yet to find a reason to use a cheque when a clear alternative was not supplied.

[artist]

I have yet to find a reason to use a cheque when a clear alternative was not supplied.

Me too. But this has drawbacks - I have never got any ready cash except a few pounds. There's actually more money in the car for carpark charges than I have got..............

[Watchful]

As artist says, it does away with small change which you need for car-parking and local shopping etc.

I still use cheques on ebay and won't use Paypal.

[artist]

I still use cheques on ebay and won't use Paypal.

Me too - I just don't trust paypal - ok if there are no problems I suppose.

[andsome]

I have so far avoided pay pal, and pay my subscription to the forum by cheque to Craig. The aquarium that I sold recently on e bay was paid for in cash when the buyer collected it.

[Watchful]

I'm the same as artist....security conscious and still get the odd Paypal scam e-mail which goes straight in the bin.

[artist]

I'm the same as artist....security conscious and still get the odd Paypal scam e-mail which goes straight in the bin.

Me too.

Also read of some of the horror stories about Paypal on other forums. Puts me off.